12th Standard Syllabus & Materials

12th Standard

TN 12th Computer Applications மின்னணு தரவு பரிமாற்றம் Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th Computer Applications மின் - வணிக பாதுகாப்பு அமைப்புகள் Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th Computer Applications மின்னணு செலுத்தல் முறைகள் Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th Computer Applications மின் - வணிகம் Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th Computer Applications திறந்த மூல கருத்துருக்கள் Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th Computer Applications வலையமைப்பு வடமிடல் Sample Question Papers Study Material - QB365 Set A

12th Standard English Medium Accountancy Reduced Syllabus Five mark Important Questions with Answer key - 2021(Public Exam )

Published on: 27/02/2021

Download Tamil Nadu 12th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

Questions + Answers key

Take MCQ Accountancy Test

QB365 Student Learing Managemnet System

Std: 12th Standard - Accountancy

chapter: - Model Question paper

Visit QB365-SLMS - https://www.qb365.in/slms/ Complete Questions and Answers

Questions:

Generic 5

23 x 5 = 115

Global Company issued shares Rs.10 each at 10% premium, payable Rs.2 on application, Rs.3 on allotment (including premium), Rs.3 on first call and Rs.3 on second and final call.
Journalise the transactions relating to forfeiture of shares for the following situations:
i. Muthu who holds 50 shares failed to pay the second and final call and his shares were forfeited.
ii. Muthu who holds 50 shares failed to pay the allotment money, first call and second and final call money and his shares were forfeited.
iii. Muthu who holds 50 shares failed to pay the allotment money and first call and his shares were forfeited after the first call.

Arul is a partner in a partnership firm. As per the partnership deed, interest on drawing is charged at 6%p.a. During the year ended on 31^st December 2018 he drew as follows.

Date	Rs.
March 1	3,000
June 1	2,000
September 1	5,000
December 1	4,000

Calculate the amount of interest on drawings under any 2 methods

Valluvan and Kamban were partners sharing profits and losses as 60% tovalluvan and 40% Kamban. Their balance sheet as at 1^st January, 2019 stood as under:

Liabilities	Rs.	Rs.	Assets	Rs.
Sundry creditors		96,000	Cash in hand	4,000
Bills payable		34,000	Sundry debtors	56,000
Capital Accounts:			Stock	40,000
Valluvan	90,000		Plant and machinery	80,000
Kamban	80,000	1,70,000	Land and Buildings	1,20,000
		3,00,000		3,00,000

The partners agreed to admit Elangovan into the firm subject to revaluation of the following items:
(i) Stock was to be reduced by Rs. 4,000
(ii) Land and Buildings were to be valued at Rs. 1,60,000
(iii) A provision of 2\(\frac{1}{2}\)% was to be created for doubtful debtors.
(iv) A liability of Rs.2,600 for outstanding expenses had been omitted to be recorded in the books
Prepare the Revaluation account, capital accounts and the Balance sheet after the above adjustment

From the following details of vijay who maintains incomplete records, prepare trading and profit and loss account for the year ended 31^st March 2018 and a Balance sheet as on the date.

Particulars	As on 1.4.2017 Rs.	As on 31.3.2018 Rs.
Sundry Creditors	37,500	43,750
Furniture	2,500	2,500
Cash	6,250	10,000
Sundry debtors	62,500	87,500
Stock	25,000	12,500

Other details:

	Rs.
Drawings	10,000
Discount received	3,750
Discount allowed	2,500
Cash received from sundry debtors	1,35,000
Cash paid to creditors	1,12,500
Sales returns	3,750
Purchase returns	1,250
Sundry expenses paid	8,750

Mrs. Geetha started business with Rs. 1,20,000 as capital on 1.4.2018. During the year she has withdrawn at the rate of Rs. 1,000 per month. She introduced Rs. 20,000 as additional capital. Her position on 31.3.2019 was as follows.

Particulars	Rs.
Bank balance	8,000
Stock	80,000
Sundry debtors	50,000
Furniture	2,500
Cash in hand	2,000
Sundry creditors	25,000
Expenses outstanding	1,000

She keeps her books under single entry system, determine for profit or loss for the year 2003-04.

Following is the receipts and payments accounts of Literacy club for the year ended 31^stMarch 2016

Receipts	Rs.	Rs.	Payments	Rs.
To Balance c/d		19,550	By Salary	3,000
			By News papers	2,050
To Subscribtions			By Electricity bill	1,000
2014·2015	1,200		By Fixed deposit	20,000
2015·2016	26,500		(on 1^st July, 2015 @
	500		9% per annum
		28,200	By Books	10,600
			By Rent	6,800
To slae old news paper		1,250	By Furniture	10,500
To Government grants		10,000	By Balance dd	11,200
To sale of old furniture		5,700
(book value Rs.7,000)
To interest on fixed deposits		450
		65,150		65,150

Additional information:
(i) Subscription outstanding as on 31^stMarch, 2015 were Rs. 2000 and on 31^stMarch, 2016 Rs. 2,500.
(ii) On 31^stMarch, 2016 Salary outstanding was Rs. 600 and rent outstanding was Rs. 1,200.
(iii) The club owned furniture Rs. 15,000 and books Rs. 7,000 on 1st April, 2015. Prepare income and expenditure account of the dub for the year ended 31^stMarch 2016 and as certain capital fund on 31^stMarch, 2015. Also prepare a balance sheet as on 31^stMarch, 2016.

Rajan and Selva are partners sharing profits and losses in the ratio of 3:1. Their balance sheet as on 31^st March 2017 is as under:

Liabilities	Rs.	Rs.	Assets	Rs.
Capital accounts:			Building	25,000
Rajan	30,000		Furniture	1,000
Selva	16,000	46,000	Stock	20,000
General reserve		4,000	Debtors	16,000
Creditors		37,500	Bills receivable	3,000
			Cash at bank	12,500
			Profit and loss account	10,000
		87,500		87,500

On 1.4.2017, they admit Ganesan as a new partner on the following arrangements:
(i) Ganesan brings Rs. 10,000 as capital for 1/5 share of profit.
(ii) Stock and furniture is to be reduced by 10%, a reserve of 5% on debtors for doubtful debts is to be created.
(iii) Appreciate buildings by 20%.
Prepare revaluation account, partner's capital account and the balance sheet of the firm after admission.

From the following trading activities of Naveen Ltd. calculate
(i) Gross profit ratio
(ii) Net profit ratio
(iii) Operating cost ratio
(iv) Operating profit ratio

Statement of Profit and loss
Particulars	Rs.
I. Revenue from operations	20,000
II. Other income:
Income from investments	200
III. Total revenues (I+II)	20,200
IV. Expenses:
Purchases of stock-in-trade	17,000
Changes in inventories	-1,000
Finance costs	300
Other expenses (administration and selling)	2,400
Total expenses	18,700
V. Profit before tax (III - IV)	1,500

Kannan, Rahim and John are partners in a firm sharing profit and losses in the ratio of 5 : 3 : 2. The balance sheet as on 31^st December, 2017 was as follows:

Liabilities	Rs	Rs	Asset	Rs
Capital accounts:			Buildings	90,000
Kannan	1,00,000		Machinery	60,000
Rahim	80,000		Debtors	30,000
John	40,000	2,10,000	Stock	20,000
Workmen compensation fund		30,000	Cash at bank	50,000
Creditors		20,000	Profit and loss A/c (loss)	20,000
		2,70,000		2,70,000

John retires on 1st January 2018, subject to following conditions:
(i) To appreciate building by 10%
(ii) Stock to be depreciated by 5%.
(iii) To provide Rs. 1,000 for bad debts
(iv) An unrecorded liability of Rs. 8,000 have been noticed.
(v) The retiring partner shall be paid immediately.
Prepare revaluation account, partners’ capital account and the balance sheet of the firm after retirement.

10.

Simon Ltd issued 50,000 equity shares of Rs.10 each at par payable on application Rs.1 per share, on allotment Rs.5 per share, on first call Rs.2 per share and on second and final call Rs.2 per share. The issue was fully subscribed and all the amounts were duly received with the exception of 2,000 shares held by Chezhian, who failed to pay the second and final call. His shares were forfeited and reissued to Elango at Rs.8 per share. Journalise the above transactions.

11.

From the following particulars, calculate the trend percentages of Anu Ltd.

Particulars	Rs.in thousands
	Year 1	Year 2	Year 3
I EQUITY AND LIABILITIES
Shareholders’ Fund	500	550	600
Non-current liabilities	200	250	240
Current liabilities	100	80	120
Total	800	880	960
II ASSETS
Non-current assets	600	720	780
Total	800	880	960

12.

Saranya Ltd. issued 20,000 equity shares of Rs.10 each to the public at par. The details of the amount payable on the shares are as follows:
On application Rs.3 per share On allotment Rs.4 per share On first and final call Rs.3 per share Application money was received on 30,000 shares. Excess application money was refunded immediately. Pass journal entries to record the above.

13.

Prepare common-size statement of financial position for the following particulars of Rani Ltd.

Particulars	31st March, 2016	31st March, 2017
	Rs.	Rs.
I EQUITY AND LIABILITIES
Shareholders’ Fund	5,40,000	6,00,000
Non-current liabilities	2,70,000	2,70,000
Current liabilities	90,000	1,50,000
Total	9,00,000	10,00,000
II ASSETS
Non-current assets	7,20,000	8,00,000
Current assets	1,80,000	2,00,000
Total	9,00,000	10,00,000

14.

Following is the extract of balance sheet of Abdul Ltd., as on 31^st March, 2019:

Particulars	Rs.
I. EQUITY AND LIABILITIES
1. Shareholders' funds
(a) Share capital	2,00,000
(b) Reserves and surplus	50,000
2. Non-current liabilities
Long-term borrowings	1,50,000
3. Current liabilities
(a) Trade payables	1,30,000
(b) Other current liabilities	5,000
(c) Short-term provisions	20,000
Provision for tax	30,000
Total	5,55,000

Net profit before interest and tax for the year was Rs. 60,000. Calculate the return on capital employed for the year.

15.

From the following particulars of Neithal Ltd, calculate trend percentages.

Particulars	Rs.in lakhs
	2015-16	2016-17	2017-18
Revenue from operations	150	135	90
Other income	25	5	15
Expenses	125	75	50
Income tax	40%	40%	40%

16.

Anand and Balu are partners in a firm sharing profits and losses in the ratio of 7:3. Their balance sheet as on 31st March, 2018 is as follows:

Liabilities	Rs.	Rs.	Assets	Rs.
Capital accounts:			Land	60,000
Anand	50,000		Stock	40,000
Balu	30,000	80,000	Debtors	20,000
Sundry creditors		20,000	Cash in hand	10,000
Profit and loss A/c		30,000
		1,30,000		1,30,000

Chandru is admitted as a new partner on 1.4.2018 by introducing a capital of Rs. 20,000 for 1/4 share in the future profit subject to the following adjustments:
(a) Stock to be depreciated by Rs. 3,000
(b) Provision for doubtful debts to be created for Rs. 2,000.
(c) Land was to be appreciated by Rs. 10,000
Prepare revaluation account and capital account of partners after admission.

17.

Dinesh and Sugumar entered into a partnership agreement on 1st January 2018, Dinesh contributing Rs. 1,50,000 and Sugumar Rs. 1,20,000 as capital. The agreement provided that:
(a) Profits and losses to be shared in the ratio 2:1 as between Dinesh and Sugumar.
(b) Partners to be entitled to interest on capital @ 4% p.a.
(c) Interest on drawings to be charged Dinesh: Rs. 3,600 and Sugumar: Rs. 2,200
(d) Dinesh to receive a salary of Rs. 60,000 for the year, and
(e) Sugumar to receive a commission of Rs. 80,000.
During the year ended on 31st December 2018, the firm made a profit of Rs. 2,20,000 before adjustment of interest, salary and commission.
Prepare the Profit and loss appropriation account.

18.

From the following information, prepare capital accounts of partners Shanthi and Sumathi, when their capitals are fixed.

Particulars	Shanthi Rs.	Sumathi Rs.
Capital on 1^st January 2	1,00,000	80,000
Current account on 1^st January 2018 (Cr.)	5,000	3,000
Additional capital introduced on 1^st June 2018	10,000	20,000
Drawings during 2018	20,000	13,000
Interest on drawings	500	300
Share of profit for 20	10,000	8,000
Interest on capital	6,300	5,400
Salary	9,000	Nil
Commission	Nil	1,200

19.

From the following Receipts and Payment account and from the information given below of Ramanathapuram Sports Club, prepare Income and Expenditure account for the year ended 31^st December, 2018 and the balance sheet as on that date.

Receipts	Rs.	Rs.	Payments	Rs.	Rs.
To Balance b/d			By Rent		11,000
Cash in hand	5,000		By Entertainment
Cash at bank	10,000	15,000	expenses		11,200
To Subscription			By Furniture		10,000
2017	12,000		By Sports materials
2018	33,000		purchased		13,000
2019	16,000	61,000	By Match expenses		12,000
To Entrance fees		6,000	By Investments made		28,000
To General donations		7,000	By Balance c/d
To Sale of old sports			Cash in hand	1,300
materials		1,000	Cash at bank	4,000	5,300
To Miscellaneous
receipts		500
		90,500			90,500

Additional information:
(i) Capital fund as on 1^st January 2018 Rs. 30,000.
(ii) Opening stock of sports material Rs. 3,000 and closing stock of sports material Rs. 5,000.

20.

The following is the Receipts and Payments account of Madurai City Club for the year ending 31^st March, 2018.

Madurai City Club
Dr. Receipts and Payments Account for the year ended 31^st March, 2018 Cr
Receipts	Rs.	Rs.	Payments	Rs.	Rs.
To Balance b/d:			By Upkeep of ground		16,500
Cash	500		By Match expenses		19,000
Bank	7,000	7,500	By Sundry expenses		11,000
To Subscription (including
Rs. 4,000 for 2016-2017)		30,000	By Balance c/d:
To Legacies		9,000	Cash in hand	1,500
To Hall rent		10,000	Cash at bank	11,000	12,500
To Receipts for match fund		22,500
		79,000			79,000

Additional information:
On 1^st April, 2017, the club had investment of Rs. 40,000. The club also had a credit balance of Rs. 30,000 in Match fund account. On 31^st March, 2017 subscriptions in arrears were Rs. 4,000and the subscriptions in arrears on 31^st March, 2018 were Rs. 4,500. Prepare the final accounts.

21.

From the following particulars of Poompuhar Literary Association, prepare Receipts and Payments account for the year ended 31^st March, 2019.

Particulars	Rs.	Particulars	Rs.
Opening cash in hand as on 1.4.2018	5,000	Subscriptions received	20,000
Bank overdraft as on 1.4.2018	4,000	Repairs and renewals	2,500
Printing and stationery	1,500	Conveyance paid	2,750
Interest paid	3,250	Books purchased	10,000
Sale of investments	1,000	Insurance premium paid	4,000
Purchase of refreshments	1,500	Sundry receipts	750
Outstanding salary	2,000	Government grants received	6,000
Endowment fund receipts	2,000	Sale of refreshments	1,500
Lighting charges	1,300	Depreciation on buildings	2,000
		Cash at bank on 31.03.2019	2,000

22.

Mary does not keep her books under double entry system. From the following details prepare trading and profit and loss account for the year ending 31^st March, 2019 and a balance sheet as on that date.
Dr. Cash Book Cr. Particulars Rs. Particulars Rs. To Balance b/d 1,20,000 By Purchases 1,50,000 To Sales 3,60,000 By Creditors 2,50,000 To Debtors 3,40,000 By Wages 70,000 By Sundry expenses 1,27,000 By Balance c/d 2,23,000 8,20,000 8,20,000 Other information
Particulars 1.4.2018 31.3.2019 Stock of goods 1,10,000 1,80,000 Sundry Debtors 1,30,000 ? Sundry Creditors 1,60,000 90,000 Furniture and fittings 80,000 80,000 Additional information
Credit purchases 1,80,000
Credit sales 2,90,000
Opening capital 2,80,000
Depreciate furniture and fittings by 10% p.a.

23.

Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31^st March, 2019 and a balance sheet as on that date.

**Dr. Cash Book Cr.**
Receipts	Rs.	Payments	Rs.
To balance b/d	32,000	By Purchases A/c	56,000
To Sales A/c	1,60,000	By Creditors A/c	80,000
To Debtors A/c	1,20,000	By General expenses A/c	24,000
		By Wages A/c	10,000
		By Balance c/d	1,42,000
	3,12,000		3,12,000

Other Information:

Particulars	1.4.2018 Rs.	31.3.2019 Rs.
Stock of goods	40,000	60,000
Debtors	38,000	?
Creditors	58,000	52,000
Machinery	1,70,000	1,70,000

Additional information:	Rs
(i) Credit purchases	74,000
(ii) Credit sales	1,40,000
(iii) Opening capital	2,22,000
(iv) Depreciate machinery by 10% p.a.

Generic 2

2 x 2 = 4

24.

Calculate gross profit ratio from the following:
Revenue from operations Rs. 2,50,000, Cost of revenue from operations Rs. 2,10,000 and Purchases Rs. 1,80,000.

25.

From the following particulars, prepare comparative income statement of Daniel Ltd.

Particulars	2015-16 Rs.	2016-17 Rs.
Revenue from operations	40,000	50,000
Operating expenses	25,000	27,500
Income tax (% of the profit before tax)	30	30

Visit QB365-SLMS - https://www.qb365.in/slms/

Answers Key:

Generic 5

23 x 5 = 115

(i) When final call money is not paid

In the books of Global company Journal entries
Particulars		Debit Rs.	Credit Rs.
Equity share capital A/c (50 x 10)	Dr.	500
To Equity share second and final call A/c (50 x 3)			150
To Forfeited shares A/c (50 x 7)			350
(50 shares forfeited)

Note: Since the premium amount is received by the company, premium should not be cancelled.
(ii) When allotment, first call money and second and final call money is not paid

In the books of Y company Journal entries
Particulars		Debit Rs.	Credit Rs.
Share capital A/c (50 x 10)	Dr.	500
Share premium A/c (50 x 1)	Dr.	50
To Share allotment A/c (50 x 3)			150
To Share first call A/c (50 x 3)			150
To Share second and final call A/c (50 x 3)			150
To Shares forfeited A/c (50 x 2)			100
(50 shares forfeited)

(iii) When allotment and first call money is not paid

In the books of Y company Journal entries
Particulars		Debit Rs.	Credit Rs.
Share capital A/c (50 x 7)	Dr.	350
Share premium A/c (50 x 1 )	Dr.	50
To Share allotment A/c (50 x 3)			150
To Share first call A/c (50 x 3)			150
To Shares forfeited A/c (50 x 2)			100
(50 shares forfeited)

Interest on drawings = Amount of drawings x Rate of interest x Period of interest
Withdrawal on March 1= Rs.3,000 x \(\frac{6}{100}\) x \(\frac{10}{12}\) = Rs.150
Withdrawal of June 1 = ~2,000 x \(\frac{6}{100}\) x \(\frac{7}{12}\) = Rs.70
Withdrawal of September 1 = Rs.5,000 x \(\frac{6}{100}\) x \(\frac{4}{12}\) = Rs.100
Withdrawal of December 1 = Rs.4,000 x\(\frac{6}{100}\) x \(\frac{1}{12}\) = Rs.20
_______
Total interest on drawings = Rs.340
________

Dr Revaluation Account Cr
Particulars		Rs.	Particulars	Rs.
To Stock A/c		4,000	By Land and Buildings A/c	40,000
To Provision for doubtful debts A/c		1,400
To Outstanding expenses A/c		2,600
To Profit on revaluation transferred to :
Valluvan's capital A/c	19,200
Kambans capital A/c	12,800	32,000
		40,000		40,000

Dr Capital Account Cr
Particulars	Ragu Rs.	Sam Rs.	Particulars	Ragu Rs.	Sam Rs.
To Balance c/d	1,09,200	92,800	By Balance b/d	90,000	80,000
	34,000	26,000	By Revaluation A/c	19,200	12,800
	1,09,000	92,000		1,09,000	92,000
			By Balance b/d	1,09,000	92,000

Balance sheet ofValluvan and Kamban as on 1st January, 2019
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Outstanding expenses		2,600	Cash in hand		4,000
Sundry creditors		96,000	Sundry Debtors	56,000
Bills payable		34,000	Less: Provision for doubtful debts	1,400	54,600
Capital Accounts:			Stock	40,000
Vallauvan	1,09,200		Loss: Reduction	4,000	36,000
Kamban	92,800	2,02,000	Plant & Machinery		80,000
			Land and buildings	1,20,000
			Add: Appreciation	40,000	1,60,000
		3,34,600			3,34,600

Calculation of opening capital

Statement of affairs as on 1.4.2017
Liabilities	Rs.	Assets	Rs.
Sundry creditors	37,500	Furniture	2,500
Opening capital (B/F)	58,750	Cash	6,250
		Sundry Debtors	62,500
		Stock	25,000
	96,250		96,250

Dr. Total Debtors account Cr.
Liabilities	Rs.	Particulars	Rs.
To Balance b/d	62,500	By Cash received	1,35,000
To Credit Sales (B/F)	1,66,250	By Discount allowed	2,500
		By Sales returns	3,750
		By Balance c/d	87,500
	2,28,750		2,28,750

Dr. Total Creditors account Cr.
Liabilities	Rs.	Particulars	Rs.
To Cash paid	1,12,500	By Balance b/d	37,500
To Discount received	3,750	By Credit purchases (B/F)	1,23,750
To Purchase returns	1,250
To Balance c/d	43,750
	1,61,250		1,61,250

Trading and Profit and loss account for the year ended 31.3.2018
Particulars	Rs.	Rs.	Particulars	Rs.	Rs.
To Opening stock		25,000	By Sales	1,66,250
To Purchases	1,23,750		Less: Sales returns	3,750	1,62,500
Less: Purchase returns	1,250	1,22,500
			By Closing stock		12,500
To Gross profit c/d		27,500
		1,75,000			1,75,000
To Discount allowed		2,500	By Gross profits b/d		27,500
To Sundry expenses		8,750	By Discount received		3,750
To Depreciation		125
To Net profit		19,875
(Transferred to capital a/c)		31,250			31,250

Balance sheet as on 31.3.2018
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	58,750		Furniture	2,500
Add: Net profit	19,875		Less: Depreciation	125	2,375
	78,625		Cash		10,000
Less: Drawings	10,000	68,625	Sundry debtors		87,500
Sundry creditors		43,750	Closing stock		12,500
		1,12,375			1,12,375

Statement of affairs as on 31^st March 2019
Liabilities	Rs.	Assets	Rs.
Sundry creditors	25,000	Bank balance	8,000
Expenses outstanding	1,000	Stock	80,000
Closing capital (B/F)	1,16,500	Sundry debtors	50,000
		Furniture	2,500
		Cash in hand	2,000
	1,42,500		1,42,500

Statement of profit or loss
Particulars	Rs.
Closing capital	1,16,500
Add: Drawings (1000 x 12)	12,000
	1,28,500
Less: Additional capital	20,000
Adjusted closing capital	1,08,500
Less: Opening capital	1,20,000
Loss for the year	11,500

Balance sheet as on 31^st March 20
Liabilities	Rs	Assets	Rs
(balancing figure)	43,550	Cash in hand	19,550
(balancing figure)		Subscription outstanding	2,000
		Furniture	15,000
		Books	7,000
	43,550		43,550

Dr Income and Expenditure Account for the year ended 31^stMarch 2 Cr
Expenditure	Rs.	Rs.	Income	Rs.	Rs.
To Salary	3,000		By Subscriptions	26,500
Add: Outstanding	600	3,600	Add: Outstanding for 2015-16	1,700	28,200
To Newspapers		2,050	By Sale of old newspaper		1,250
To Rent		6,800	By Interest on fixed deposit	450
Add: Outstanding	1,200	8,000	Add: Accrued interest	900	1,350
To Loss on sale of
furniture (7000 - 5700)		1,300
To Surplus		24,850
(Excess of income over
expenditure)
		40,800			40,800

Balance sheet as on 31^st March, 2016
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Salary outstanding		600	Cash in hand		11,200
Rent outstanding		1,200	Subscription outstanding
Subscription			for 2014 - 15	800
received in advance		500	(2000 - 1200)
Capital fund	43,550		for 2015 - 16	1,700	2,500
Add: Surplus	24850	68,400	Fixed depo		20,000
			Accrued interest on fixed
			deposit		900
			Furniture (15000-7000 + 10,500		18,500
			Books (7,000 + 10,600		17,600
		70,700			70,700

Dr Revaluation Account Cr
Particulars	Rs.	Rs.	Partiulars	Rs.
To Stock A/c		2,000	By Buildings A/c	5,000
To Furniture A/c		100
To Debtors A/c		800
To Profit on revaluation transferred capital A/c
Rajan (3/4)	1575
Selva (1/4)	525	2,100
		5,000		5,000

Dr Capital Account Cr
Particulars	Rajan Rs.	Selva Rs.	Ganesan Rs.	Particulars	Rajan Rs.	Selva Rs.	Ganesan Rs.
To Profit and loss A/c	7,500	2,500	-	By Balance b/d	30,000	16,000	-
To Balance c/d	27,075	15,025	10,000	By General reserve A/c	3,000	1,000	-
				By Revaluation A/c	1,575	525	-
				By Bank A/c	-	-	10,000
	34,575	17,525	10,000		34,575	17,525	10,000

Balance sheet as on 1st April 2017
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital Account:			Building	25,000
Rajan	27,075		Add: Appreciation Furniture	5,000	30,000
Selvam	15,025		Furniture	1,000
Ganesan	10,000	52,100	Less: Depreciation	100	900
Creditors		37,500	Stock	20,000
			Less: Depreciation	2,000	18,000
			Debtors	16,000
			Less: Doubtful doubts	800	15,200
			Cash at bank	12,500
			Add: Ganesan's capital	10,000	22,500
			Bills receivable		3,000
		89,600			89,600

(i) Gross profit ratio = \(\frac{Gross\ profit}{Revenue\ from\ operations}\) = \(\times\) 100 = \(\frac{4,000}{20,000}\) \(\times\) 100 = 20%
Cost of revenue from operations = Purchase of stock-in-trade + Changes in inventory + Direct expenses
= 17,000 – 1,000 + 0 = Rs.16,000
Gross profit = Revenue from operations – Cost of revenue from operations
= 20,000 – 16,000 = Rs.4,000
(ii) Net profit ratio = \(\frac{Net\ profit\ after\ tax}{Revenue\ from\ operations}\) \(\times\) 100 = \(\frac{1,500}{20,000}\) \(\times\) 100 = 7.5%

Dr Revaluation A/c Cr
Particulars	Rs	Particulars	Rs	Rs
To stock A/c	1,000	By Building A/c		9,000
To Deptors A/c	1,000	By Loss on revaluation transferred to
To Unrecorded liability A/c	8,000
		Kannans capital A/c	500
		Rahim's capital A/c	300
		John's capital A/c	200
				1,000
	10,000			10,000

Dr Capital Account Cr
Particulars	Kannan Rs	Rahim Rs	John Rs	Particulars	Kannan Rs	Rahim Rs	John Rs
To Profit and Loss A/c	10,000	6,000	4,000	By Balance b/d	1,00,000	80,000	40,000
To Revaluation A/c	500	300	200	By Workmens Compensation fund	15,000	9,000	6,000
To Bank	-	-	41,800	compensation
To Balance c/d	1,04,500	82,700	-	fund	15,000	9,000	6,000

	1,15,000	89,000	46,000		1,15,500	89,000	46,000
				By Balance b/d	1,04,500	82,700

Balance Sheet as on 31st December 2017
Liabilities	Rs	Rs	Assets	Rs	Rs
Capital accounts			Buildings	90,000
			Add:Appreciation	9,000	99,000
Kannan	1,04,500		Machinary		60,000
Rahim	82,700	1,87,200
			Deptors	30,000
Sudry creditors		20,000	Less,Bad debts	1,000	29,000
Unrecorded liability		8,000
			Stock	20,000
			Less: Depreciation	1,000	19,000

			Cash at bank	50,000
			Less: Amount paid to John	41,800	8,200
		2,15,200			2,15,200

10.

In the books of Simon Ltd Journal entries
Particulars		Debit Rs.	Credit Rs.
Bank A/c (50,000 x 1)	Dr	50,000
To Equity share application A/c			50,000
(Application money received)
Equity share application A/c	Dr	50,000
To Equity share capital A/c			50,000
(Application money transferred to share capital A/c)
Equity share allotment A/c	Dr	2,50,000
To Equity share capital A/c			2,50,000
(Allotment money due)
Bank A/c (50,000 x 5)	Dr	2.50,000
To Equity share allotment A/c			2,50,000
(Allotment money received)
Equity share first call A/c	Dr	1,00,000
To Equity share capital A/c (50,000 x 2)			1,00,000
(First call money due)
Bank A/c (50,000 x 2)	Dr	1,00,000
To Equity share first call A/c			1,00,000
(First call money received)
Equity share second and Final call A/c (50,000 x 2)	Dr	1,00,000
To Equity share capital A/c			1,00,000
(second and final call money received)
Bank A/c (48,000 x 2)	Dr	96,000
To Equity share second and final call A/c			96,000
(Second and final call money received)
Equity share capital A/c (2,000 x 10)	Dr	20,000
To Equity share second and final call A/c			4,000
To Forfeited share A/c (2000 shares forfeited)			16,000
Bank A/c (2,000 x 8)	Dr	16,000
Forfeited shares A/c	Dr	4,000
To Equity share capital A/c			20,000
(shares forfeited and reissues)
Forfeited shares A/c (16,000 - 4,000)	Dr	12,000
To Capital reserve A/c			12,000
(Gain on reissue of forfeited shares transferred to capital reserve account)			12,000

11.

Trend analysis for Anu Ltd
Particulars	in thousands			Trends percentage
Particulars	Year 1	Year 2	Year 3	Year 1	Year 2	Year 3
I Equity and liabilities
Shares holder's fund	500	550	600	100	110	120
Non-current liabilities	200	250	240	100	125	120
Current liabilities	100	80	120	100	80	120
Total	800	880	960	100	110	120
II. Assets
Non-current assets	600	720	780	100	120	130
Current assets	200	100	180	100	80	90
Total	800	880	960	100	110	120

12.

In the books of Saranya Ltd Journal entries Date Particulars L.F Debit Rs. Credit Rs. Bank A/c (30,000 x 3) Dr 90,000 To Equity share application A/c 90,000 (Application money received) Equity share application A/c (20,000 x 3) Dr 60,000 To Equity share capital A/c 60,000 (Transfer of share application money to share
capital) Equity share application A/c (10000 x 3) Dr 30,000 To Bank A/c 30,000 (Excess share application money refunded) Equity share allotment A/c (20,000 x 4) Dr 80,000 To Equity share capital A/c 80,000 (share allotment money due) Bank A/c Dr 80,000 To Equity share allotment A/c 80,000 (Allotment money received) Equity share first and final call A/c Dr 60,000 To Equity share capital A/c 60,000 (share first and final call money due) Bank A/c Dr 60,000 To Equity share first and final call A/c 60,000 (share first and final money received)

13.

Common-size balance sheet of Rani Ltd for the year ended 31st March, 2016 and 31st March, 2017
Particulars	Absolute amount 2015-16	Percentage of total assets	Absolute amount 2016-17	Percentage of total assets
Particulars	Rs.	Rs.	Rs.	Percentage of total assets
I Equity and Liabilities
Share holder's funds	5,40,000	60	6,00,000	60
Non-current liabilities	2,70,000	30	2,50,000	25
Current liabilities	90,000	10	1,50,000	15
Total	9,00,000	100	10,00,000	100
II Assets
Non-current assets	7,20,000	80	8,00,000	80
Current assets	1,80,000	20	2,00,000	20
Total	9,00,000	100	10,00,000	100

Note: In 2015-16
Percentage of shareholders fund = \(\frac{5,40,000}{9,00,000}\) x 100 = 60%
Percentage of Non-current liabilities = \(\frac{2,70,000}{9,00,000}\) x 100 = 30%
Percentage of current liabilities = \(\frac{90,000}{9,00,000}\) x 100 = 10%
Percentage of non-current assets = \(\frac{7,20,000}{9,00,000}\) x 100 = 80%
Percentage of current assets = \(\frac{1,80,000}{9,00,000}\) x 100 = 20%
In 2016-17
Percentage of share holders fund = \(\frac{6,00,000}{10,00,000}\) x 100 = 60%
Percentage of Non-current liabilities = \(\frac{2,50,000}{10,00,000}\) x 100 = 25%
Percentage of current liabilities = \(\frac{1,50,000}{10,00,000}\) x 100 = 15%
Percentage of Non-current assets = \(\frac{8,00,000}{10,00,000}\) x 100 = 80%
Percentage of current assets = \(\frac{2,00,000}{10,00,000}\) x 100 = 20%

14.

Return on Investment = \(\frac { Net\ profit\ before\ interest\ and\ tax }{ Capital\ employed } \) x 100
Capital employed = Share capital + Reserves and surplus + Long term borrowings
= 2,00,000 + 50,000 + 1,50,000 = Rs.4,00,000
∴ Return on Investment = \(\frac { 60,000 }{ 4,00,000 } \) x 100 = 15%

15.

**Trend analysis for Neithal Ltd**
Particulars	Rs.in lakhs			Trend percentages
	2015-16	2016-17	2017-18	2015-16	2016-17	2017-18
Revenue from operations	150	135	90	100	90	60
Add: Other income	25	5	15	100	20	60
Total revenue	175	140	105	100	80	60
Less: Expenses	125	75	50	100	60	40
Profit before tax	50	65	55	100	130	110
Less: Income tax (40%)	20	26	22	100	130	110
Profit after tax	30	39	33	100	130	110

16.

**Dr. Revaluation Account Cr.**
Particulars	Rs.	Rs	Particulars	Rs.
To		3,000	By Land A/c	10,000
To Provision for doubtful debts		2,000
To Profit on revaluation transferred to
Anand’s capital A/c (7/10)	3,500
Balu’s capital A/c (3/10)	1,500	5,000
		10,000		10,000

**Dr. Capital Account Cr.**
Particulars	Anand Rs.	Balu Rs.	Chandru Rs.	Particulars	Anand Rs.	Balu Rs.	Chandru Rs.
To Balance c/d	74,500	40,500	20,000	By Balance b/d	50,000	30,000	-
				By Bank A/c	-	-	20,000
				By Revaluation A	3,500	1,500	-
				By Profit and loss A/c	21,000	9,000	-
	74,500	40,500	20,000		74,500	40,500	20,000
				By Balance b/d	74,500	40,500	20,000

17.

Dr Profit and loss appropriation accounts for the year ended 31st December 2018 Cr
Particulars	Rs.	Rs.	Particulars	Rs.
To Interest on capital A/C			By Profit and loss A/c	2,20,000
Dinesh (1,50,000 \(\times\) 4%)	6,000		By Interest on drawings A/c
Sugumar (1,20,000 \(\times\) 4%)	4,800	10,800	Dinesh: 3,600
			Sugumar: 2.200	5,800
To Salary to Dinesh A/c		60,000
To Commission to Sugumar A/c		80,000
To Partner's capital A/c
(Profit transferred)
Dinesh (75,000 x 2/3)	50,000
Sugumar (75,000 x 1/3)	25,000	75,000
		2,25,800		2,25,800

18.

**Dr. Partners’ Capital Account Cr.**
Date	Particulars	Shanthi Rs.	Sumathi Rs.	Date	Particulars	Shanthi Rs.	Sumathi Rs.
2018				2018
				Jan 1	By Balance b/d	1,00,000	80,000
Dec 31	To Balance c/d	1,10,000	1,00,000	June 1	By Bank (Additional capital)	10,000	20,000
		1,10,000	1,00,000			1,10,000	1,00,000
				2019
				Jan 1	By Balance b/d	1,10,000	1,00,000

**Dr. Partners’ Current Account Cr.**
Particulars	Shanthi Rs.	Sumathi Rs.	Particulars	Shanthi Rs.	Sumathi Rs.
To Drawings	20,000	13,000	By Balance b/d	5,000	3,000
To Interest on			By Profit and loss
	500	300
drawings			appropriation A/c	10,000	8,000
To Balance c/d	9,800	4,300	(share of profit)
			By Interest on capital	6,300	5,400
			By Salary	9,000	-
			By Commission	-	1,200
	30,300	17,600		30,300	17,600
			By Balance b/d	9,800	4,300

19.

Dr In the books of Ramanatha puram sports club Income and Expenditure Account for the year
31^st December, 2018 Dr
Expenditure	Rs	Rs	Income	Rs
To Rent		11,000	By Subscription	33,000
To Entertaiment expenses		11,200	By Entrance fees	6,000
To match expenses		12,000	By General donations	7,000
To Sports materials (Opening)	3,000		By Sale of old sports materials	1,000
dd: Purchased	13,000		By Miscellaneous receipts	500
	16,000
Less: Closing stock	5,000
		11,000
To Surplus (Excess income over expenditure)		2,300
		47,500		47,500

Balance sheet as on 31^st December, 2018
Liabilities	Rs	Rs	Assets	Rs	Rs
Capital fund	30,000		Cash in hand	1,300
Add: Excess of income over expenditure (surplus)	2,300	32,300	Furniture		10,000
Subscription advance	16,000		Investments		28,000
			Stock of stationary		5,000
		48,800			48,300

20.

To find the opening capital fund, opening balance sheet should be prepared

In the books of Madurai City Club Balance sheet of as on 31^st March, 2017
Liabilities	Rs.	Assets	Rs.
Capital fund		Investment	40,000
(Balancing figure)	21,500	Subscriptions outstanding	4,000
Match fund	30,00	Cash at bank	7,000
		Cash in hand	500
	51,500		51,500

Dr. Income and Expenditure Account for the year ended 31^st March, 2018 Cr.
Expenditure	Rs.	Income	Rs.	Rs.
To Upkeep of ground	16,500	By Subscriptions	30,000
To Sundry expenses	11,000	Less: Received for 2016-17	4,000
To Excess of income			26,000
over expenditure (surplus)	13,000	Add: Outstanding for the		30,500
		current year	4,500
		By Hall rent		10,000
	40,500			40,500

Balance sheet as on 31^st March, 2018
Liabilities	Rs.	Rs.	Assets	Rs.
Capital fund	21,500		Furniture	20,000
Add: Excess of income over			Investment	40,000
expenditure (surplus)	13,000	34,500	Subscription outstanding	4,500
Legacies		9,000	Cash at bank	11,000
Match fund	30,000		Cash in hand	1,500
Add: Receipts for match fund	22,500
	52,500
Less: Match expenses	19,000	33,500
		77,000		77,000

21.

In the books of Poompuhar Literary Association
Dr. Receipts and Payments Account for the year ended 31st March, 2019 Cr
Receipts	Rs.	Payments	Rs.
To Balance b/d		By Balance b/d
Cash in hand	5,000	Bank overdraft	4,000
To Sale of investments	1,000	By Printing and stationery	1,500
To Endowment fund receipts	2,000	By Interest paid	3,250
To Subscriptions received	20,000	By Purchase of refreshments	1,500
To Sundry receipts	750	By Lighting charges	1,300
To Government grants received	6,000	By Repairs and renewals	2,500
To Sale of refreshments	1,500	By Conveyance paid	2,750
		By Books purchased	10,000
		By Insurance premium paid	4,000
		By Balance c/d
		Cash at bank	2,000
		Cash in hand	3,450
	36,250		36,250

Note: As outstanding salary and depreciation are non-cash items, both are to be excluded inreceipts and payments account.

22.

Dr. In the books of Mary Total Debtors account Cr. Particulars Rs. Particulars Rs To Balance b/d 1,30,000 By Cash (received) 3,40,000 To Sales (Credit) 2,90,000 By Balance c/d 80,000 (balancing figure) 4,20,000 4,20,000 To Balance b/d 80,000 Dr. Trading and Profit and loss account for the year ended 31^st March 2019 Cr. Particulars Rs. Rs. Particulars Rs. Rs To Opening stock 1,10,000 By Sales To Purchases Cash 3,60,000 Cash 1,50,000 Credit 2,90,000 6,50,000 Credit 1,80,000 3,30,000 By Closing stock 1,80,000 To Wages 70,000 To Gross profit c/d 3,20,000 8,30,000 8,30,000 To Sundry expenses 1,27,000 By Gross profits b/d 3,20,000 To Depreciation on machinery 10% 8,000 To Net profit transfered to capital a/c 1,85,000 3,20,000 3,20,000 Balance sheet as on 31^st March 2019 Liabilities Rs. Rs. Assets Rs. Rs Capital 2,80,000 Cash 2,23,000 Add: Net profit 1,85,000 4,65,000 Stock of goods 1,80,000 Debtors 80,000 Creditors 90,000 Furniture and fittings 80,000 Less: Depreciation 8,000 72,000 5,55,000 5,55,000

23.

Dr. In the books of Bharathi
Total debtors account Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	38,000	By Cash A/c (received)	1,20,000
To Sales A/c (credit)	1,40,000	By Balance c/d (balancing figure)	58,000
	1,78,000		1,78,000
To Balance b/d	58,000

**Dr. Trading and Profit and Loss Account for the year ended 31st March, 2019 Cr.**
Particulars		Rs.	Particulars		Rs.
To Opening stock		40,000	By Sales
To Purchases			Cash	1,60,000
Cash	56,000		Credit	1,40,000	3,00,000
Credit	74,000	1,30,000	By Closing stock		60,000
To Wages		10,000
To Gross profit c/d		1,80,000
		3,60,000			3,60,000
To General expenses		24,000	By Gross profit b/d		1,80,000
To Depreciation on machinery		17,000
To Net profit transferred to capital a/c		1,39,000
		1,80,000			1,80,000

**Balance Sheet as on 31st March, 2019**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	2,22,000		Cash		1,42,000
Add: Net profit	1,39,000	3,61,000	Stock of goods		60,000
Creditors		52,000	Debtors		58,000
			Machinery	1,70,000
			Less: Depreciation	17,000	1,53,000
		4,13,000			4,13,000

Generic 2

2 x 2 = 4

24.

Gross profit ratio = \(\frac { Gross\ profit }{ Revenue\ from\ operations } \) \(\times\) 100
Gross profit = Revenue from operations - Cost of revenue from operations
= Rs.2,50,000 - Rs.2,10,000
= Rs.40,000
∴ Gross profit ratio = \(\frac { 40,000 }{ 2,50,000 } \) \(\times\) 100 = 16%

25.

Comparative income statement of Daniel Ltd for the year ended 2016 and 2017
Particulars	2015-16 Rs.	2016-17 Rs.	Absolute amount of increase (+) or decrease (-) Rs.	Percentage increase (+) or decrease (-)
Revenue from Operations	40,000	50,000	+ 10,000	+ 25
Less: Operating expenses	25,000	27,500	+ 2,500	+ 10
Profit before tax	15,000	22,500	+ 7,500	+ 50
Less: Income tax	4,500	6750	+ 2,250	+ 50
Profit after tax	10,500	15,750	+ 5,250	+ 50

Note:
Percentage increase for revenue from operations = \(\frac{10,000}{40,000}\) x 100 = 25%
Percentage increase for operating expenses = \(\frac{2,500}{25,000}\) x 100 = 10%
Percentage increase for profit before tax = \(\frac{7,500}{15,000}\) x 100 = 50%
Percentage increase for income for Income tax = \(\frac{2250}{4500}\) x 100 = 50%
Percentage increase for profit after tax = \(\frac{5250}{10,500}\) x 100 = 50%